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Coronavirus: Vouchers up to €10,000 available for Galway businesses

Galway businesses affected by the coronavirus crisis can take advantage of supports available, including vouchers from €2,500 up to €10,000 (with 50:50 match funding).

The Local Enterprise Office in Galway will be providing the vouchers to support business continuity preparedness, innovation and productivity.

The Department of Business, Enterprise and Innovation have put a range of supports in place, including a €200m scheme for eligible businesses impacted by Covid-19.

Loans of up to €1.5m will be available at reduced rates, with up to the first €500,000 unsecured.

Applications can be made through the SBCI website.

Commenting on the supports available, East Galway TD Ciaran Cannon said: “This is a very anxious time for businesses across Ireland and the government is providing all possible assistance in helping them navigate the weeks and months ahead”.

“There is also a €200m Package for Enterprise Supports including a Rescue and Restructuring Scheme available through Enterprise Ireland for vulnerable but viable firms that need to restructure or transform their business; the maximum loan available from MicroFinance Ireland will be increased from €25,000 to €50,000 as an immediate measure to specifically deal with exceptional circumstances that micro-enterprises – sole traders and firms with up to 9 employees – are facing and applications can be made through the MFI website or through your local LEO.

“The Credit Guarantee Scheme will be available to firms impacted by COVID-19 through the Pillar Banks and loans of up to €1m will be available at terms of up to seven years.”

Michael Malone
Email me at editor@galwaydaily.com

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